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Topic: Chinese Exchanges must Close Doors on April 15 (Read 736 times)

So it seems like China is not being too nice to this new disruptive technology. Hmm I wonder why...My view is that they are terrified about the effect such technologies will have on their centralized power. In my opinion I think that this move will only hurt them. These technologies can't and will not be stopped. The people of China will naturally gravitate towards greater freedom despite what their government/central bank says.

The other thing I'd like to point out is that Bitcoin or Bitcoin 2.0 technologies won't cease to exist or be limited simply because of this. There are still 6 Billion other people in the world that want Bitcoin... They just don't know it yet. What are your thoughts? I've provided a link to the article.

So it seems like China is not being too nice to this new disruptive technology. Hmm I wonder why...My view is that they are terrified about the effect such technologies will have on their centralized power. In my opinion I think that this move will only hurt them. These technologies can't and will not be stopped. The people of China will naturally gravitate towards greater freedom despite what their government/central bank says.

The other thing I'd like to point out is that Bitcoin or Bitcoin 2.0 technologies won't cease to exist or be limited simply because of this. There are still 6 Billion other people in the world that want Bitcoin... They just don't know it yet. What are your thoughts? I've provided a link to the article.

China also builds great walls to protect itself from the world. Honestly those ideas were silly back then and are silly now. The great wall doesn't work. All it's going to do is keep China from being able to make Chinese versions of Bitcoin technology.

Maybe if they embrace technology they could control it rather than trying to ban it and have even less control. The technology is guaranteed to be used and the only question is who gets to use it.

Of course!! Haha That just mean a more explosive growth for Bitshares and greater profit for us

Maybe it was fortuitous that the BitShares X snapshot happened before the crackdown, since it allowed many Chinese to get themselves written into the BitShares X genesis block so they'll be able to participate in the decentralized exchange.

I found the description of common bad practices by Bobby Lee at CoinSummit a lot more disturbing than the risk of a China ban.

Along with the telltale signs to recognize those practises, he mentions Chinese exchanges padding volume numbers with zeros, selling to itself, repeating sales(without any real sales taking place), phantom liquidity causing flash crashes, which to me sounds a lot more damaging than the chance of these exchanges being shut down.

EDITI don't understand what he means by saying that it is a common occurrence in China. It's okay to mess with the numbers if everyone does it? Do Chinese traders like to be taken for a ride? Or is he only talking about the exchanges screwing over their customers and that it's okay if everyone does it?